L3Harris Technologies, Inc. (NYSE:LHX) Shares Sold by Brown Lisle Cummings Inc.

Brown Lisle Cummings Inc. cut its position in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 1.0% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 14,435 shares of the company’s stock after selling 150 shares during the quarter. L3Harris Technologies accounts for 0.9% of Brown Lisle Cummings Inc.’s investment portfolio, making the stock its 28th biggest holding. Brown Lisle Cummings Inc.’s holdings in L3Harris Technologies were worth $3,035,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of LHX. KCM Investment Advisors LLC increased its stake in shares of L3Harris Technologies by 43.8% during the 3rd quarter. KCM Investment Advisors LLC now owns 19,273 shares of the company’s stock worth $4,584,000 after purchasing an additional 5,868 shares in the last quarter. Fortem Financial Group LLC purchased a new position in L3Harris Technologies during the third quarter worth $841,000. Czech National Bank raised its holdings in shares of L3Harris Technologies by 6.4% in the fourth quarter. Czech National Bank now owns 41,124 shares of the company’s stock worth $8,648,000 after acquiring an additional 2,480 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of L3Harris Technologies by 29.9% during the third quarter. JPMorgan Chase & Co. now owns 774,560 shares of the company’s stock valued at $184,245,000 after acquiring an additional 178,407 shares during the last quarter. Finally, Principal Financial Group Inc. raised its stake in L3Harris Technologies by 2.0% in the 3rd quarter. Principal Financial Group Inc. now owns 220,269 shares of the company’s stock valued at $52,395,000 after purchasing an additional 4,321 shares during the last quarter. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Ross Niebergall sold 1,764 shares of L3Harris Technologies stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $213.65, for a total transaction of $376,878.60. Following the sale, the insider now directly owns 6,812 shares of the company’s stock, valued at approximately $1,455,383.80. The trade was a 20.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold 4,901 shares of company stock worth $1,059,757 in the last quarter. 0.87% of the stock is owned by corporate insiders.

L3Harris Technologies Price Performance

Shares of NYSE LHX opened at $213.07 on Tuesday. The company has a market capitalization of $40.41 billion, a price-to-earnings ratio of 27.07, a PEG ratio of 1.74 and a beta of 0.76. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.08 and a quick ratio of 0.90. L3Harris Technologies, Inc. has a 1-year low of $200.18 and a 1-year high of $265.74. The business has a 50-day moving average of $220.51 and a 200-day moving average of $232.17.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings data on Thursday, January 30th. The company reported $3.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.43 by $0.04. L3Harris Technologies had a net margin of 7.04% and a return on equity of 13.11%. On average, equities analysts anticipate that L3Harris Technologies, Inc. will post 13.8 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Sanford C. Bernstein raised shares of L3Harris Technologies from a “market perform” rating to an “outperform” rating and decreased their price target for the stock from $289.00 to $267.00 in a research note on Wednesday, January 8th. Raymond James downgraded L3Harris Technologies from an “outperform” rating to a “market perform” rating in a report on Thursday, January 2nd. Royal Bank of Canada restated a “sector perform” rating and set a $240.00 price objective on shares of L3Harris Technologies in a report on Friday. Barclays dropped their target price on L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating for the company in a research note on Monday, January 6th. Finally, StockNews.com raised L3Harris Technologies from a “hold” rating to a “buy” rating in a research note on Monday, October 28th. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $263.07.

L3Harris Technologies Profile

L3Harris Technologies, Inc provides mission-critical solutions for government and commercial customers worldwide. The company's Integrated Mission Systems segment provides intelligence, surveillance, and reconnaissance (ISR) systems, passive sensing and targeting, electronic attack, autonomy, power and communications, and networks and sensors, as well as advanced combat systems for air, land, and sea sectors.